Converge Technology Solutions (TSE:CTS) Raised to Strong-Buy at Stifel Canada

Stifel Canada upgraded shares of Converge Technology Solutions (TSE:CTS) to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

Several other equities analysts have also recently issued reports on the stock. Ventum Financial boosted their target price on shares of Converge Technology Solutions from C$5.20 to C$6.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Cormark raised Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research note on Monday. Canaccord Genuity Group decreased their target price on Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. National Bank Financial cut shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus set a C$4.00 price objective on shares of Converge Technology Solutions and gave the company a “hold” rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Converge Technology Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.77.

Converge Technology Solutions Stock Down 3.8 %

Converge Technology Solutions stock opened at C$3.55 on Wednesday. Converge Technology Solutions has a 52 week low of C$2.90 and a 52 week high of C$6.06. The firm has a market cap of C$692.96 million, a price-to-earnings ratio of -4.44, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The business’s 50-day moving average price is C$3.42 and its 200 day moving average price is C$3.95. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08.

Converge Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, December 28th. Stockholders of record on Saturday, December 28th were issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Tuesday, December 10th. Converge Technology Solutions’s dividend payout ratio is currently -7.50%.

Converge Technology Solutions Company Profile

Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions in the United States and Canada. Its solutions approach delivers advanced analytics, artificial intelligence, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.